Coamo, the largest farmer cooperative in Brazil, said the adverse weather can lead to greater losses for soybeans than for corn this season. According to the company, the second corn crop is developing well so far. Coamo expects to receive around 3.3 million tons, compared to 1.9 million in the last crop year. This is another factor that can hold up revenue, in addition to higher prices. “The producer is not selling soy; however, they will have to in order to pay the bills. How much soy will be sold will depend a lot on the behavior of the producer”, said Coamo Chief Executive Airton Galinari. The company intends to invest in 2022 almost the same amount of last year, when investments totaled R$ 616.4 million. The company also expects to finish two warehouses in Mato Grosso do Sul and to expand the wheat mills.
Sources: Reuters/Nova Cana (*Translated by Ia Niani)